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Peer-Inspired Investing and Financial Anxiety: Does Generation Classification Matter?

Olamide Olajide & Kaplan Sanders

Financial Planning Research Journal2026https://doi.org/10.2478/fprj-2025-0011article
ABDC C
Weight
0.37

What the paper says

Abstract This study explores how peer-inspired motivation to invest relates to financial anxiety through a generational lens. Analysing the 2021 National Financial Capability Study (NFCS) with ordered logit models reveals a significant, positive association between peer influence and financial anxiety. Gen X, Millennials, and Gen Z each report higher financial anxiety compared to Baby Boomers. Interaction effects show that Millennials and Gen X who invest due to peer influence report significantly higher levels of financial anxiety compared to Baby Boomers. These findings have important implications for individuals and financial planners working to improve their clients’ financial well-being.

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https://doi.org/https://doi.org/10.2478/fprj-2025-0011

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@article{olamide2026,
  title        = {{Peer-Inspired Investing and Financial Anxiety: Does Generation Classification Matter?}},
  author       = {Olamide Olajide & Kaplan Sanders},
  journal      = {Financial Planning Research Journal},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.2478/fprj-2025-0011},
}

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Peer-Inspired Investing and Financial Anxiety: Does Generation Classification Matter?

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.